Is There Cash In The Virtual World?

It may sound like a weird question, but there is a good reason for it. For those of you who are familiar with the virtual world of Second Life and similar social networking and gaming sites, then the answer is a yes.

For those who have played Warcraft, Ultima Online and other multi-player online games, there are occasion that the armors, weapons, and even characters you have created and used can be offered for sale to other interested gamers. And the mode of payment may actually be in cold, hard cash. There was one person who sold some of his virtual assets and ended up earning $11,000. That's a respectable amount of money. And he's not the only one doing that.

Another good case in point is the popular virtual world of Second Life. Although at first glance it may seem to be no different to other social interaction sites, what sets it apart is its ability to convert its virtual cash into real currency, like US dollars. So, if you've earned some Linden dollars (the currency in Second Life) through your business dealings with other players, then you can have its US dollar equivalent deposited into your account. And if by chance you go broke in Second Life, you can also convert your US dollars into Linden money.

And there also ways for you to earn money online. One of the most lucrative ways is through the collection of virtual items that has real-world value. This is quite popular for people who play Warcraft. Players who collect them, called “virtual farmers,” spend a lot of time doing repeated tasks for a small rewards in the virtual world. The payment may be small, but the eventual pay will be enormous.

And there are also what we call virtual estate developers. They develop properties in the virtual world, build infrastructures on these, then sell these to interested individuals in the real world. CNN once reported an auction that took place in 2007. It was reported that three shopping malls in the virtual world of “Entropia Universe” were bought at the tune of $180,000.

Then there is also the entry of real-world businesses into the virtual world. In the case of Second Life, big firms such as Toyota, IBM, Sony, Reuters and Nike have all made in-roads into the virtual community. And since places like these are difficult to navigate for first-time users, these companies hire veteran players of that world. And these virtual employees receive an actual salary.

There may also come the day that an actual sale will take place in Second Life and other virtual worlds. You might want to buy the latest Avril Lavigne album, so you use your avatar to visit a Sony music store. You pay for the album in virtual dollars, and then wait a week for the actual album to arrive on your actual doorsteps. In this scenario, the fine line between real and virtual is not just crossed, it's also erased.

Who knows, it might be happening just now.